This week in our Success in the Banking Ecosystem series, we are looking at construction loan administration technologies.
Many of our banking clients struggle with inefficiencies in their construction loan administration processes. We’ve collaborated with our clients on what solutions they’ve heard of while also advising based on the own research of our ZennBanking group—an internal group comprised of our employees that are former bankers. Built Technologies stood out to both us and our clients as a best-in-class solution.
The four main features of the Built platform are:
- Draw Management
- Collateral Management
- A Borrower Experience Portal
- Portfolio Insights
Using Built for construction loan administration provides a centralized platform for lenders, borrowers, contractors, and inspectors to efficiently manage construction loans. Tedious manual processes for loan administration are prone to risk and inefficiencies, making it paramount to reduce operational errors while maintaining speed, clarity, and control over the process.
Another feature we see great success with is the nCino connector. This allows users in nCino to send customer and loan data to Built to reduce manual entry and to send Built construction loan data back to nCino to complete the picture. Overall, our clients like Built because it’s web-based and modern. Built has a robust feature set, a network of contractors and inspectors, and the ability to integrate into the other tools across the bank such as nCino and Salesforce.
Utilizing banking technologies, there is no limit to what we can help our clients achieve. If you are looking at construction loan administration tools, we’d be happy to guide you through the process.
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Next in the series: ActiveDocs, a leading doc prep solution.